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Global defence budget jumps to record high of $2440bn

Global defence budget jumps to record high of 40bn

For the first time, government military spending increased in all five geographical regions, Sipri thinktank finds

Global military expenditure has reached a record high of $2440bn (£1970bn) after the largest annual rise in government spending on arms in over a decade, according to a report.

The 6.8% increase between 2022 and 2023 was the steepest since 2009, pushing spending to the highest recorded by the Stockholm International Peace Research Institute (Sipri) in its 60-year history.

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